Vijay Vankadari, who has renovated Frankfurt apartment buildings for more than a decade, used a cheap and plentiful resource for his latest residential project in the city: old office buildings that businesses won’t touch.

Office-to-apartment conversions like Vankadari’s Grand- Westend 24 in the city center are growing in Germany’s financial capital, providing opportunities for landlords hard pressed to find corporate tenants for outdated buildings. Such projects will account for more than a fifth of the homes coming onto the market this year, city government data shows.

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